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The MBR Company began operations on January 1,2012,and on that date,$15,000 of common stock was issued for cash.In addition,MBR borrowed $10,000 from the bank.The company provided services to its customers during 2012 and received $18,000 cash.During the year,it paid $20,000 cash for land,$5,000 for salaries,and $3,000 for cash dividends to the owners.
Required:
a)Draw an accounting equation and record the effects of each transaction under the appropriate heading.(Use specific accounting titles below the major headlines)
b)Prepare an income statement and a balance sheet for the 2012 accounting period.
Coercing
The act of compelling or influencing someone to do something by using force or threats.
Information Power
The influence or control over others derived from the possession, access, or control of valuable information.
Framing
The presentation or structuring of information in a particular way to influence perception or decision-making.
Spin
The act of presenting information or a narrative in a particular way, often to influence public perception or opinion.
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